We welcome the initiatives announced in the Union Budget 2020-2021. The government has focused on ensuring surplus disposable income in the hands of consumers. One of the important announcements in this area has been the recalibration of the personal income tax rates. Removal of Dividend Distribution Tax is another commendable step
The single investment clearance cell will bring additional efficiencies. The extension of tax holiday for affordable housing is on the expected lines, given the pressure on the sector. Focus has been retained on urban development by committing to 5 additional smart cities. The focus to boost the primary sector, warehousing, infrastructure and PPP will be useful in the long term. Having said that, the Real Estate sector would have preferred additional benefits.
Clearly, the government has walked a tightrope to maintain the fiscal discipline while announcing several initiatives. Overall, the budget leaves a significant scope for extra-budgetary announcements similar to 2019.
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